Guideline Value for Teachers Colony Main Road

Teachers Colony Main Road guideline value

The current guideline value of Teachers Colony Main Road is Rs 2,800 per sq.ft, effective from 1 July 2024. This road is located in Ambattur village, under the Ambattur SRO, and is classified as Residential Class II Type - II.

How the guideline value of Teachers Colony Main Road has changed

The guideline value for Teachers Colony Main Road has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 2,600 per sq.ft. This figure dropped significantly to Rs 1,742 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to 2023, there was a substantial increase of 49%, bringing the value up to Rs 2,600 per sq.ft. The latest revision in 2024 has seen a further increase to Rs 2,800 per sq.ft, reflecting an 8% rise from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Ambattur

In Ambattur, there are 448 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 1,400 to Rs 8,209 per sq.ft. The median value for these streets is Rs 3,600 per sq.ft, indicating that the 2024 guideline value for Teachers Colony Main Road is below this median.

• Teachers Colony Nehru Street: Rs 2,800 per sq.ft (2024)
• Teachers Colony Kalavai Street (canal St.): Rs 2,800 per sq.ft (2024)
• Teachers Colony New Street: Rs 2,800 per sq.ft (2024)
• Teachers Colony Ramar Koil Street: Rs 2,800 per sq.ft (2024)
• Teachers Colony Thalapathi Stalin Street: Rs 2,800 per sq.ft (2024)
• Teachers Colony Thiru.vi.ka Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Teachers Colony Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty, charged at 7%, would amount to Rs 1,96,000, while the registration fee at 2% would be Rs 56,000. Together, these fees total Rs 2,52,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Teachers Colony Main Road?

The Sub Registrar Office that covers Teachers Colony Main Road is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Ambattur

The guideline value is a crucial factor in the registration process when buying or selling property in Ambattur. It serves as a benchmark for calculating the stamp duty and registration fees that are payable at the time of property registration.

Buyers and sellers should be aware that the guideline value may differ from the actual sale price of the property. The registration fees are calculated based on the higher of the guideline value or the sale price, ensuring that the correct amount is paid during the registration process.

Frequently asked questions

What is the current guideline value of Teachers Colony Main Road?

The current guideline value of Teachers Colony Main Road is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,600 per sq.ft in 2023 to Rs 2,800 per sq.ft in 2024, an increase of 8%. It was Rs 1,742 per sq.ft in 2017, showing a rise of 49% to reach Rs 2,600 per sq.ft in 2023.

What is the classification of land on Teachers Colony Main Road?

The land classification for Teachers Colony Main Road is Residential Class II Type - II.

Where can I find the Sub Registrar Office for Teachers Colony Main Road?

The Sub Registrar Office for Teachers Colony Main Road is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated for properties in Ambattur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 28,00,000, the stamp duty at 7% would be Rs 1,96,000.